Expedia Group, Inc. - EXPE STOCK NEWS

Expedia Group (NASDAQ: EXPE) is set to report its first quarter 2021 results on May 6, 2021. The earnings release will be available after the market closes, and a webcast will follow at 1:30 PM PT / 4:30 PM ET. Investors can access these materials through the Investor Relations section of Expedia's website. The anticipated replay of the call will be available for at least three months. With a mission to enhance global travel accessibility, Expedia Group operates a diverse portfolio of renowned travel brands.

On April 19, 2021, Expedia announced a significant rebranding effort as the travel industry recovers from the COVID-19 pandemic. The new positioning emphasizes the importance of companionship during travel, with a focus on meeting evolving traveler needs. Key enhancements include a refreshed mobile app and website, a comprehensive itinerary experience, and improved customer support. The Expedia Rewards program will also be simplified to attract more users. This initiative aims to solidify Expedia's role as an ultimate travel companion, backed by their largest marketing investment in five years.

Vrbo, part of Expedia Group, launched a new program called Fast Start to enhance visibility for new properties within their first 90 days. Properties can earn an average of US$6,000 in that period, 50% more than on other sites. The program offers new hosts a badge, elevated search position, and dedicated support. A pilot showed a 25% increase in bookings and a 140% increase in gross booking value. The program kicks off in the U.S. and will expand globally. Last year, 95% of hosts participated in responsible travel initiatives.

On March 15, 2021, Expedia.com announced the ranking of the friendliest towns and cities in the U.S., based on traveler reviews between January 2019 and December 2020. The list includes top destinations such as Whitefish, Montana, and Sister Bay, Wisconsin, appealing to those seeking welcoming travel experiences as spring and summer travel resumes. The announcement aligns with Expedia's 2021 travel trends emphasizing social distancing and domestic escapes. Expedia is currently offering a Spring Sale with discounts up to 20% on select hotels, valid until March 31.

Expedia Group announced an increase in its cash tender offer for a portion of its 6.250% Senior Notes due 2025, raising the maximum purchase price from $950 million to $1.13 billion. This Offer is conditional upon the successful completion of a $1 billion financing transaction, which includes issuance of 2.950% Senior Notes due 2031 and 0% Convertible Senior Notes due 2026. As of the Early Participation Date on March 1, 2021, valid tenders reached $1.70 billion, and the Offer is expected to conclude without additional purchases due to full subscription.

Expedia Group (NASDAQ: EXPE) will participate in the Morgan Stanley Technology, Media and Telecom Conference on March 1, 2021. CEO Peter Kern will lead a Q&A session starting at 8:00am PT / 11:00am ET. A live webcast will be publicly accessible through Expedia's Investor Relations. A replay will be available for 90 days.

Expedia.com has launched an Emergency Accommodations Portal in response to the severe winter weather in Texas, which has displaced many residents. The portal provides real-time information on hotel availability and aims to reduce stress for those seeking shelter. Expedia is collaborating with hotel partners to ensure accurate pricing and availability, implementing price caps to maintain fairness. The initiative is part of Expedia's commitment to assist during recovery efforts. More details can be found at Expedia.com/texas.

Expedia Group has priced its private offerings of $1 billion 2.950% Senior Notes due 2031 and $900 million Convertible Notes due 2026. The Senior Notes will be issued at 99.081% of principal, while the Convertible Notes will be issued at par. Net proceeds from both offerings are estimated at $1.868 billion, intended for potential redemption of existing senior notes and debt repayment. The Convertible Notes will be convertible under specific conditions, with an initial conversion price reflecting a 72.5% premium over a recent stock close. Closures are expected in February and March 2021.

Expedia Group released its 2021 Travel Trends Report, revealing insights from a survey of 2,200 Americans. Key findings suggest a strong desire to travel, with nearly half of respondents more inclined to do so once a COVID-19 vaccine is widely available. 44% plan to take more trips in 2021 compared to 2020, while consumers are saving an average of $3,444 for their next vacation. The report indicates a notable recovery for the travel industry, as cities like New York and Los Angeles are expected to see increased flight demand.